Investor Update - Washington Securities Pty Ltd - Low Ball Offer
Mainfreight Limited (Mainfreight) has been advised that Washington Securities Pty Limited intends to make an unsolicited offer to some Mainfreight shareholders offering to buy Mainfreight shares for $7.00 per share. The price offered of $7.00 per share is a substantial discount to the current market price of Mainfreight shares. The market price of Mainfreight shares on the NZX was $10.40 per share at close of trading yesterday, 7 August 2013.
Mainfreight understands that Washington Securities Pty Limited is an Australian company, whose sole director and shareholder is John Armour.
If you receive such an offer, Mainfreight strongly recommends that you seek independent advice and check the most recent market price for Mainfreight shares on the NZX